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Columbus Energy Share Chat (CERP)



Share Price: 5.15Bid: 5.00Ask: 5.30Change: 0.00 (0.00%)No Movement on Columbus Energy
Spread: 0.30Spread as %: 6.00%Open: 5.00High: 5.15Low: 5.00Yesterday’s Close: 5.15


Share Discussion for Columbus Energy


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rossannan
Posts: 4,597
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 22:33
LGO-fan

Bang on - LK is the right man to make the best out of the mess that he inherited from NR.
 
Horseyhead
Posts: 1,175
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 20:07
Scenario 3) somebody else is granted license (if it’s up for tender someone will be awarded?) possibly interested in taking on cps as a whole and takes on abandonment liability as part of new license being awarded. Cash saving. Potentially cash making. :-) not life changing amount granted!
LGO-fan
Posts: 1,951
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 17:45
LK is doing what is right;

1) either we don’t get the extension- and at the speed (or lack there off) this is going it could be H2/18 b4 we reach any kind of resolution. Add some further delays any who knows when we see white smoke. Point is our bopd will be significantly higher by then and the financials will be strong enough to deal with the costs. So LK is pushing the worst case scenario out as far as possible knowing that the longer it takes the higher our bopd will be. Hopefully it won’t come to us not getting the extension but if so we can deal with it.

2) we get the extension and LK wil extract maximum value. In what ever shape or form, whatever the scenario. He has mentioned he is confident to be able to offload this. Let’s see what happens.

In both cases pursuing the license extension is sensible.

There you go, B.B. peace keeping at work. I am ready for my job at the UN.

Yours truly,

A Guterres
Hellraiser1
Posts: 23
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 16:25
So much about LLL/Ross? new here what about the company? i'm reading some good , really good recovery story, are they trying to stop good press? makes you think, back to the facts would be good lads
in4cedros
Posts: 3,449
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 14:22
LieLadyLie - is that the best you can do - that's struggling for a Desmond!

Firstly I'm glad you're in agreement with me that tendering for a new concession is in the best interests of CERP - I'm happy for LK to exercise his judgement on what to do long term with Spain.

Secondly I'm also in agreement NR would have bitten off anyone's hand ( or other anatomical features ) for a cash offer when the company was in trouble - when the offers were made the company was not knowingly in distress so they had to be weighed in that light - clearly hindsight would have led to the earlier sale. The offers were in the millions so clearly others thought it was a valuable asset but lease length is highly significant in assessing value. That's the evidence not NR projections although they are an interesting debating point - feel free to share with the board your alternative figures for Spain if you think there is interest - I merely included NR figures because a previous poster believed there was no plan, which was clearly incorrect - not everyone is a 24/7 follower of the company so can genuinely overlook information which was not in a rns!

Always good to chat with you - who would have thought we'd still be having these stimulating exchanges after all the company has been through - especially as you were regularly telling us the company would be Toast by next Tuesday when it was at it's most vulnerable - certainly warrants a special mention in my book and appropriate respect from long term supporters of the company!
LayLadyLay
Posts: 2,563
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 13:02
'A more detailed submission which was sent to Spanish Government, penned by NR, projected CapEx of 5 million euros to yield 1500 bopd '

in4cedros - another cunning NR plan that you suddenly buy into as 'evidence' that Spain is a prime asset.

'I would also caution NR's numbers: he has (been) known to quote too high bopd and too low costs...'

Spot on LGO-fan. I'm surprised in4cedros didn't remember that.

'... and finally I know you like to avoid evidence but CERP had more than one offer of substantial cash for Spain whilst the concession was running down so it's not unreasonable to consider the possibility that a 30 year concession backed asset could be quite an attractive asset'

in4cedros (or should I call you arry?) - NR would have bitten anyone's hand off that offered cash when LGO was in deep financial trouble.

'I'm happy management are taking a seemingly sensible path to maximising shareholders value.'

arry - I think you'll find in the fullness of time that LK is trying to extricate CERP from Spain at minimum cost and he sees applying for a new concession as possibly a way out of this debacle at minimum cost to the company.
in4cedros
Posts: 3,449
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 11:49
Dross - and finally I know you like to avoid evidence but CERP had more than one offer of substantial cash for Spain whilst the concession was running down so it's not unreasonable to consider the possibility that a 30 year concession backed asset could be quite an attractive asset - but you are entitled to run your own agenda!
in4cedros
Posts: 3,449
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 11:40
Dross - as a poster on another board mentioned LK has done exactly what NR wanted on Spain so only someone with a reality bypass would use that as evidence that LK has ' found out NR on that front ' - indeed we should celebrate LK judgement to put NR in charge of the Spanish issue as presumably LK has used his time wisely to scrutinise Spain carefully over a long period and has reached the same conclusion on forward strategy.

Dross having been educated on the other board about the win - win financial consequences of a new tender application ( if CERP lose the winner picks up many of the legacy issues ) - is now spouting the new knowledge on LSE after the clumsy attempt at deramping failed due to ignorance.

This is a complicated business and we have much to learn from each other - I would just like to learn less from Dross!
ptrotter
Posts: 520
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 11:03
Dross ‘slippery’ that’s the understatement of the year! She is like a dog on heat when anyone suggests anything positive, sniffs them out and try’s to Rodger them from behind, funny really
rossannan
Posts: 4,597
Off Topic
Opinion:No Opinion
Price:5.15
RE: Spain.
Sat 11:00
Not clear why it should affect the share price adversely - LK is just making the best of a bad situation in a typically business-like way. It seems pretty clear that the process is going to trundle on into next year. It may eventually generate something that can be sold to recoup some of CERP£s losses in Spain - just don£t expect it generate the sort of nonsense figures bandied about by the local rampers (no-one is going to pay over the odds for an asset that requires significant expenditure). In the meantime the drain in Spain will not be as bad as it was.

LGO-fan

Spot on. The potential of Spain is an old onceatrader chestnut. LGO chucked a lot of money into that pit but LK is more canny and has found out NR on that front as well as on many others. His exchange with NR the first time we met him, with NR scrabbling to defend his position, showed pretty clearly what LK thought of LGO£s exploits in Spain. LK is clearly just doing what is necessary to kick those hefty abandonment costs down the road - fair play to LK there. If CPS won the concession and then simply gave it away this would save those £900,000+ costs, so any actual payment for the concession would be a bonus. The figures in the millions of Euros that onceatrader used to talk his book about are out of the question though, IMO.




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